Dupage Policy Journal

Dupage Policy Journal

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Former state university employee Eiva paid in $7K to pension fund, could collect $123K in retirement

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By Local Labs News Service | Feb 1, 2016

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Former state university employee Alexandra Eiva, who retired in January 2016, saved $7,064 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eiva would collect as much as $123,418, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Eiva received $2,594 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eiva will have already received $8,018 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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